Tax planning

Effective tax management is essential for protecting and growing your family’s wealth. In an ever-changing tax environment, understanding and managing the inherent tax costs of your family office structure is critical. At Bates Weston, we offer expert tax planning to ensure your family’s wealth is managed in line with your goals while remaining compliant with all tax regulations.

Creating, enhancing, protecting, and transferring family wealth requires a tailored, balanced approach. Our tax advisory team works closely with you to optimise your tax position, reduce liabilities, and ensure your strategy is aligned with your family’s long-term vision.

How Bates Weston helps:

Meeting family income requirements efficiently:
We help structure income in a tax-efficient manner, maximising the use of allowances, exemptions, and reliefs to ensure your family retains more of its wealth.

Structuring investment assets:
Family investment companies can be a powerful tool for accumulating and passing on wealth. We provide guidance on how to structure these entities effectively, ensuring they align with your tax and legacy goals.

Using trust arrangements:
Trusts offer flexibility for managing and transferring wealth, but understanding their legal and tax implications is essential. We’ll help you choose and implement the right trust structures for your family’s needs.

Inheritance tax (IHT) and wealth transfer:
With IHT rules frequently changing, staying ahead of the curve is vital. We assist in creating strategies that enable wealth to be passed on in the most tax-efficient way possible, protecting your legacy.

Tax residence and emigration from the UK:
For families considering a change in tax residence, understanding the Statutory Residence Test (SRT) and the upcoming residence-only tax regime from April 2025 is essential. We’ll guide you through these complex rules to ensure compliance and minimise disruption.

Why Bates Weston?

Our family office tax planning services go beyond compliance. We focus on delivering practical, forward-thinking advice that helps your family preserve and grow wealth while navigating the complexities of today’s tax landscape. With decades of experience in supporting high-net-worth families, we provide clarity and confidence in every recommendation.

If you’d like to discuss tax planning for your family office, we’re here to help. Call us today to arrange a confidential conversation, without obligation, and let’s explore how we can support your family’s financial goals.